Funding arb · Price arb /

ICP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0089%/8h= −9.7% APRpaid last 24h −0.001%

Price spread now: gTrade (Gains Network) against Bybit+0.077%7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Bybit Short on gTrade (Gains Network)

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

The price spread pays, funding is against you. gTrade (Gains Network) is 0.077% dearer against Bybit than usual: you sell high and buy low (spread +0.077% now, against zero (this spread has no 7-day history yet)): +$8 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 2.9 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit ICPUSDT	2.9450	0.0100	pay 0.0100% / 8h	4h 39m	$17.1M	$18.5M	75x
Short	gTrade (Gains Network) ICP/USD	2.9473	L +0.0006% / S −0.0011%	get 0.0001% / 1h	39m 55s	$22K	—	150x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

gTrade (Gains Network) against Bybit. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee BybitbpFee gTrade (Gains Network)bpOrdersPrice spread, now +0.077%Rate

Funding earned: −$18.7
Price spread: +0.077% → 0.000%: $7.67
Slippage, 4 orders: no order book: not counted
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Net: −$32.02
Costs to cover: 0.210%
Break-even: never at this rate

Slippage unknown: Bybit: live order book, 4 min ago; gTrade (Gains Network): no order-book sample. Net counts fees only.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy Bybit live order book, 4 min ago	1.70 bp	12.4 bp −$12	35.6 bp −$356	doesn't fit	doesn't fit
Sell gTrade (Gains Network) no order-book sample	—	—	—	—	—

gTrade (Gains Network): no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

ICP on 27 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
dYdX ICP-USD	0.0000%	1h	2.9502	+0.177%	$69K	$3K	5x	as long as short
Deribit ICP_USDC-PERPETUAL	0.0000%	1h	2.9470	+0.068%	$263	$464	50x	as long as short
gTrade (Gains Network) ICP/USDshort	L +0.0006% / S −0.0011%	1h	2.9473	+0.077%	$22K	—	150x
Injective ICP/USDC PERP	+0.0033%	1h	2.9665	+0.730%	$202	$200K	12x	as long as short
Variational Omni ICP	+0.0087%	8h	2.9430	−0.069%	$1.1M	$116K	—	as long as short
Lighter ICP	+0.0096%	1h	2.9468	+0.061%	$157K	$486K	5x	as long as short
Aster ICPUSDT	+0.0100%	8h	2.9461	+0.038%	$269K	$1.7M	20x	as long as short
Pacifica ICP	+0.0100%	1h	2.9509	+0.202%	$134K	$10K	5x	as long as short
Binance ICPUSDT	+0.0100%	8h	2.9460	+0.036%	$28.9M	$51.5M	75x	as long as short
Bybit ICPUSDTlong	+0.0100%	8h	2.9450	long leg	$17.1M	$18.5M	75x

Show all 27 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX ICP-USDT-SWAP	+0.0100%	8h	2.9450	0.000%	$5.6M	$16.4M	50x	as long as short
Gate ICP_USDT	+0.0100%	8h	2.9450	0.000%	$1.9M	$3.0M	50x	as long as short
MEXC ICP_USDT	+0.0100%	8h	2.9450	0.000%	$19.7M	$10.2M	50x	as long as short
KuCoin ICPUSDTM	+0.0100%	8h	2.9450	0.000%	$4.8M	$12.8M	50x	as long as short
Bitget ICPUSDT	+0.0100%	8h	2.9460	+0.034%	$6.9M	$4.7M	50x	as long as short
BingX ICP-USDT	+0.0100%	8h	2.9450	0.000%	—	$5.8M	—	as long as short
edgeX ICPUSDC	+0.0100%	4h	2.9466	+0.053%	$23K	$279K	10x	as long as short
GRVT ICP_USDT_Perp	+0.0100%	8h	2.9404	−0.158%	$569K	$464K	10x	as long as short
SunX ICP-USDT	+0.0100%	8h	2.9500	+0.170%	$1K	$1.7M	20x	as long as short
HTX ICP-USDT	+0.0100%	8h	2.9430	−0.068%	$103K	$175K	20x	as long as short
Phemex ICPUSDT	+0.0100%	8h	2.9470	+0.068%	$1.7M	$791K	50x	as long as short
Extended ICP-USD	+0.0104%	1h	2.9433	−0.058%	$22K	$124K	10x	as long as short
BloFin ICP-USDT	+0.0220%	8h	2.9450	0.000%	$1.2M	$2.2M	75x	as long as short
Hyperliquid ICP	+0.0273%	1h	2.9480	+0.102%	$4.6M	$5.0M	5x	as long as short
Coinbase International ICP-PERP-INTX	+0.0320%	1h	2.9710	+0.883%	$67K	$62K	50x	as long as short
GMX ICP/USD [WBTC.b-USDC]	L +0.0504% / S −0.0480%	1h	2.9479	+0.097%	$37K	—	100x	as long as short
Kraken Futures PF_ICPUSD	+0.0572%	1h	2.9493	+0.146%	$518K	$623K	50x	as long as short